Chinese companies are planning to move production to Vietnam or other countries of southeast Asia, fearing an intensification of the trade dispute between China and the US, the Financial Times writes. China took a mirror action against American goods after the US imposed 25 percent duty on China's exports worth $34 billion. The US plans to introduce an additional 10 percent duty on Chinese goods worth a total of $200 billion. Against this backdrop, companies operating in Guangdong Province said they had to accelerate production diversification and move operations from China. According to the head of the Federation of Hong Kong Industries, Jimmy Kwok, the transfer of production of certain types of Chinese goods to the countries of southeast Asia is already under way, companies are forced to review the supply chains.
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